New York, United States, Sept. 14, 2022 (GLOBE NEWSWIRE) -- The need for efficiency in rail operations, high demographic growth and hyper-urbanization enhancing the need for efficient railway systems, technological advancements aimed at improving customer experience, increased government initiatives and Public-Private Partnerships (PPP), and adoption of IoT and automation technologies to enhance smart railways optimization are all major factors driving the growth of the railways market.
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Railway IT Spending Will Surge Between 2022 and 2030
Railway systems need the flawless integration of various technological pieces, including hardware, software, and networks. It's possible that integrating multiple hardware devices and railway management software with older system architecture may be difficult. The development of digital infrastructure is challenging without strong pre-existing IT and experienced employees.
Railway operators have the option of overhauling their IT systems completely; however, the expenditures associated with such an upgrade would take a long time to recover. Due to protocol difficulties, legacy systems are frequently unable to interface with new-generation devices. These systems are capable of effectively communicating with more technologically sophisticated systems. Integration challenges are projected to limit market growth in emerging areas in the upcoming years since most developing countries continue to rely on legacy infrastructure.
Rail Operations Must Be Efficient
The growing demand for rail services puts pressure on existing systems, necessitating the optimization of existing passenger and freight timetables to boost productivity on existing rail infrastructure. Rail assets are scheduled, monitored, and maintained for an effective rail operation. Due to downtime, maintenance plans diminish asset productivity. Thus it is managed by manual diagnostics that have a poor success rate.
Rail authorities emphasize condition-based and predictive maintenance solutions to improve efficiency and save time. These technologies depict asset monitoring and effective asset scheduling, reducing downtime. Condition-based and predictive maintenance are based on real-time data, which reduces the need for manual diagnostics. Rail asset data is utilized to maximize the usage of rail assets. It also allows asset maintenance on a timetable, resource intensities, and prices. Thus, it has increased the efficiency of passenger management and traffic management.
Globalization has a direct impact on all sorts of railway transportation traffic. Increased speed, security, and dependability are in high demand. As a result, the future railway transportation ecosystem will need to provide solutions that can meet demand from source to destination while maintaining a high quality of service, regardless of the distance travelled or the number of steps necessary to get there.
People's needs change daily, necessitating the development of more convenient travel options. Intelligent solutions such as advanced PIS, advanced vehicle control systems, and other systems offer information on the real-time location of cars, used to monitor schedule adherence and alert passengers on the location of vehicles in transit. Passengers' happiness is predicted to improve if reliable real-time information on the status of in-transit cars is made available to them. Therefore, keeping track could be analyzed effectively.
Report Scope
| Report Metric | Details |
| Market Size | USD 57.912 million by 2030 |
| CAGR | 9.4 % (2020-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Types, Applications, Regions |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Accenture (Ireland), Altran Technologies S.A. (France), ALTEN SA (France), IBM Corporation (U.S.), SAP SE (Germany), ABB Ltd (Switzerland), ALE International (France), ALSTOM Holdings (France), Ansaldo STS (Italy). |
| Key Market Opportunities | Networked Gadgets and the internet, is taking the rail sector forward |
| Key Market Drivers | IT expenditure in the railway industry is predicted to expand significantly. |
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Impact of COVID-19 on Railway Market
COVID-19 caused regular railway operations to be interrupted, leading railway traffic profits to plummet. The epidemic has compelled train operators, particularly metros, to adhere to safety standards such as keeping social distance and wearing masks. With nations opening up and demand both passenger and freight transportation beginning to revive, train operators must prepare for long-term profitability and success in the post-pandemic world. Technology-driven innovation is quickly becoming a must for corporate survival. In nations with a poor degree of digital services, the epidemic has expedited the digitization of train travel. It is primarily to promote cleaner and safer travel experiences. Because of improved rail market circumstances and shifting attitudes regarding train travel, the pandemic might accelerate the migration of passengers from aircraft to trains.
However, in light of the current COVID-19 outbreak, various industries' activities were temporarily suspended or are operating with a small staff due to mandated lockdowns and limitations by respective regulating authorities. It is no different in the worldwide IT Spending in Railways Market, and this aspect is expected to have a substantial negative influence on the industry's revenue growth. Additionally, the high costs associated with the installation and maintenance of these devices is a factor that might limit the worldwide IT Spending in Railways Market's revenue growth throughout the forecast period.
Regional Analysis
Geographically, the global IT spending in the railways market is segmented into North America, Asia Pacific, Europe, and Latin America, the Middle East, and Africa (LAMEA).
North America is expected to witness considerable growth in IT spending in Railways Market during the forecast period 2022-2030. In Europe, rapid urbanization has increased traffic congestion in and around the cities and towns. The high-speed train network is expected to increase over the past few years and experience impressive growth in technological innovations in the region.
For instance, Chinese companies are preparing to develop technologically advanced trains to compete with established rivals in Europe, Japan, and Canada. Countries in Africa and the Middle East still lack enough railway infrastructure, hence possess a potential for market growth during the forecast period. The passenger transport system is expected to observe exponential growth owing to the incorporation of metro and light railways that propels the efficiency in transportation both in terms of cost and time. Thus, a regional analysis includes reliable predictions on value and volume, thereby helping market players to gain deep insights into the overall IT spending in the railway industry.
Key Highlights
- The global IT spending in railways market size is projected to reach USD 57.912 million by 2030 at a CAGR of 9.4% from 2022 to 2030. Railway traffic is impacted by globalization. Security, reliability, and increased speed are high priorities.
- The use of information technology assists in the monitoring and scheduling of assets, thereby reducing downtime.
- The growth of the IT Spending in Railways Market is spread across APAC, North America, Europe, South America, and MEA.
- The project is driven by technological improvements in current technologies, including internet of things (IoT) technology and IT systems, a shift toward computer-based management, control, and communication systems.
List of Key Players
- Accenture (Ireland)
- Altran Technologies S.A. (France)
- ALTEN SA (France)
- IBM Corporation (U.S.)
- SAP SE (Germany)
- ABB Ltd (Switzerland)
- ALE International (France)
- ALSTOM Holdings (France)
- Ansaldo STS (Italy)
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IT Spending in Railways Market Segmentation
- By Types:
- Service
- More electronics
- Automated train protection systems
- Autonomous train operations
- Driver and passenger information systems
- Internet data services
- Software
- Rake Management System (RMS)
- Terminal Management System (TMS)
- Hardware
- Service
- By Applications:
- Train Design
- Train Inspection
- Track Management
- Traffic Management
- Passenger Management
- By Regions:
- North America
- Europe
- Asia-Pacific
- Latin America and The Middle East and Africa (LAMEA)
Table of Content
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions and Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation and Scope
4.2 Key Market Trends
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porter’s Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of Substitution
4.3.4 Threat of New Entrants
4.3.5 Competitive Rivalry
4.4 Environment and Regulatory Landscape
4.5 Macro-Economic and Geopolitical Scenario
4.6 Parent Market Overview
4.7 Technology Landscape
4.8 Potential Venture Analysis
5 Type Overview
5.1 Services
5.1.1 More electronics
5.1.2 Automated train protection systems
5.1.3 Autonomous train operations
5.1.4 Driver and passenger information systems
5.1.5 Internet data services
5.2 Software
5.2.1 Rake Management System (RMS)
5.2.2 Terminal Management System (TMS)
5.3 Hardware
6 Application Overview
6.1 Train design
6.2 Train inspection
6.3 Track management
6.4 Traffic management
6.5 Passenger management
7 Regional Overview
7.1 Introduction
7.1.1 Market Size and Forecast (Value)
7.2 North America
7.2.1 Economic Overview
7.2.2 Market Scenario
7.2.3 The U.S.
7.2.3.1 By Types
7.2.3.2 By End-Users
7.2.3.3 By Verticals
7.2.4 Canada
7.2.4.1 By Types
7.2.4.2 By End-Users
7.2.4.3 By Verticals
7.3 Latin America (LATAM)
7.3.1 Economic Overview
7.3.2 Market Scenario
7.3.3 Mexico
7.3.3.1 By Types
7.3.3.2 By Applications
7.3.4 Brazil
7.3.4.1 By Types
7.3.4.2 By Applications
7.3.5 Argentina
7.3.5.1 By Types
7.3.5.2 By Applications
7.3.6 The Rest of LATAM
7.3.6.1 By Types
7.3.6.2 By Applications
7.4 Europe
7.4.1 Economic Overview
7.4.2 Market Scenario
7.4.3 Germany
7.4.3.1 By Types
7.4.3.2 By Applications
7.4.4 France
7.4.4.1 By Types
7.4.4.2 By Applications
7.4.5 The U.K.
7.4.5.1 By Types
7.4.5.2 By Applications
7.4.6 Italy
7.4.6.1 By Types
7.4.6.2 By Applications
7.4.7 Spain
7.4.7.1 By Types
7.4.7.2 By Applications
7.4.8 The Rest of Europe
7.4.8.1 By Types
7.4.8.2 By Applications
7.5 Asia-Pacific (APAC)
7.5.1 Economic Overview
7.5.2 Market Scenario
7.5.3 China
7.5.3.1 By Types
7.5.3.2 By Applications
7.5.4 Japan
7.5.4.1 By Types
7.5.4.2 By Applications
7.5.5 India
7.5.5.1 By Types
7.5.5.2 By Applications
7.5.6 Australia
7.5.6.1 By Types
7.5.6.2 By Applications
7.5.7 South Korea
7.5.7.1 By Types
7.5.7.2 By Applications
7.5.8 The Rest of APAC
7.5.8.1 By Types
7.5.8.2 By Applications
7.6 The Middle East and Africa
7.6.1 Economic Overview
7.6.2 Market Scenario
7.6.3 GCC
7.6.3.1 By Types
7.6.3.2 By Applications
7.6.4 South Africa
7.6.4.1 By Types
7.6.4.2 By Applications
7.6.5 The Rest of the Middle East and Africa
7.6.5.1 By Types
7.6.5.2 By Applications
8 Competitive Landscape — Manufacturers and Suppliers
8.1 Competition Dashboard
8.2 Market Share Analysis
9 Company Profiles
9.1 Altran Technologies S.A.
9.1.1 Business Overview
9.1.2 Financial Performance
9.1.3 Recent Developments
9.1.4 Product Portfolio
9.2 ALTEN SA
9.2.1 Business Overview
9.2.2 Financial Performance
9.2.3 Recent Developments
9.2.4 Product Portfolio
9.3 IBM Corporation
9.3.1 Business Overview
9.3.2 Financial Performance
9.3.3 Recent Developments
9.3.4 Product Portfolio
9.4 SAP SE
9.4.1 Business Overview
9.4.2 Financial Performance
9.4.3 Recent Developments
9.4.4 Product Portfolio
9.5 ABB Ltd
9.5.1 Business Overview
9.5.2 Financial Performance
9.5.3 Recent Developments
9.5.4 Product Portfolio
9.6 ALE International
9.6.1 Business Overview
9.6.2 Financial Performance
9.6.3 Recent Developments
9.6.4 Product Portfolio
9.7 ALSTOM Holdings
9.7.1 Business Overview
9.7.2 Financial Performance
9.7.3 Recent Developments
9.7.4 Product Portfolio
9.8 Ansaldo STS
9.8.1 Business Overview
9.8.2 Financial Performance
9.8.3 Recent Developments
9.8.4 Product Portfolio
10 Conclusion and Recommendation
11 Acronyms and Abbreviations
Table of Content and Figure https://straitsresearch.com/report/it-spending-in-railways-market/toc
Market News
The Ukraine Railway Speed Company and Hyundai Rotem have extended their maintenance contract (URSC). The deal is worth KRW 64.8 billion and covers 90 trains (around EUR 50 million). It's a five-year extension of a pact that started in 2022 and ends in 2027.
News Media
IT Spending in Railways Market: Rapid Digitalization to Change the Face of Trad
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